QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 43.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,653 shares of the wireless technology company's stock after purchasing an additional 3,236 shares during the period. Forum Financial Management LP's holdings in QUALCOMM were worth $1,636,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Eagle Strategies LLC boosted its position in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. boosted its position in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares during the last quarter. PDS Planning Inc boosted its position in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after purchasing an additional 64 shares during the last quarter. Umpqua Bank lifted its position in shares of QUALCOMM by 4.2% during the 4th quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company's stock valued at $264,000 after buying an additional 67 shares during the last quarter. Finally, Twin City Private Wealth LLC lifted its position in shares of QUALCOMM by 1.4% during the 4th quarter. Twin City Private Wealth LLC now owns 4,909 shares of the wireless technology company's stock valued at $754,000 after buying an additional 67 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 0.9%

QCOM stock traded down $1.46 during midday trading on Thursday, reaching $152.61. 7,015,168 shares of the company traded hands, compared to its average volume of 8,493,011. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $196.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The business has a 50 day moving average of $153.60 and a 200-day moving average of $154.97. The firm has a market capitalization of $167.57 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 1.99 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. increased their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday. Wells Fargo & Company dropped their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and a consensus target price of $186.61.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.